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QUESTION 15 Convo Manufacturing Company needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 25 percent of total sales each month. Historically, sales on account have been collected as follows: 50 percent in the month of the sale, 30 percent in the month after the sale, and the remaining 20 percent two months after the sale. Gross sales for the quarter are projected as follows. January February March $20,000 $10,000 $40,000 Accounts receivable on December 31 were $30,000 Convo's expected cash collections for March would be: a a: 547,200 b.$32,000 C. 537,000 d. $30,250 QUESTION 16 Type here to search TE